FIA arrests female suspect in bank account fraud

In a significant breakthrough, the Federal Investigation Agency (FIA) arrested a female member of a gang involved in online fraud, targeting citizens' bank accounts.

The gang members defrauded numerous individuals of substantial amounts. According to FIA officials, the gang came up with the scheme by exploiting vulnerabilities in online banking systems, facilitating unauthorised transfers from victims' accounts to those controlled by the perpetrators. The arrested woman used to call the customers’ banks via mobile phones, extract essential information to execute fraudulent transactions.

The agency’s ongoing investigation uncovered the gang's activities, revealing that they have illicitly obtained millions of rupees through their fraudulent practices. The arrested woman, shared crucial details with the agency, including her involvement in the withdrawal and transfer of Rs1,880,000 from a single bank customer's account.

Further revelations from the suspect highlighted the gang's modus operandi, which relied on technological prowess and deceptive tactics. By utilising audio recordings resembling legitimate bank calls and employing various proxies, the criminals impersonated bank representatives to fool victims. After gaining access to a target's account, the gang immediately transferred large sums to controlled accounts within a 48-hour window, evading detection.

The FIA spokesperson said that the arrest of the woman and the information obtained will be very important in arresting the other gangs involved in this type of fraud. FIA Cybercrime Circle will soon arrest other accused and produce them in court.
Published in The Express Tribune, April 28^th, 2024.